September 20, 2004
Exhibit 10.2
September 20, 2004
Xx. Xxxxxx X. Xxxxx
Executive Chairman
0000 Xxxxxxx Xxxxx
Dayton, OH 45432
Dear Xxx:
You entered into an employment agreement with DPL Inc. and The Dayton Power and Light Company (collectively, the “Companies”) on July 21, 2004, which was effective as of May 16, 2004.
This will confirm that the option to purchase 200,000 common shares of DPL Inc. (the “Option”) contemplated by Section 3(c) your agreement, which has not been granted to date, will be granted on the date you sign the attached Stock Option Agreement (the “Grant Date”). Notwithstanding anything in your agreement to the contrary, the per share exercise price of the Option will be the Fair Market Value (as defined in the DPL Inc. Stock Option Plan) on the Grant Date.
Please execute this letter agreement where indicated below to express your acknowledgement and agreement to the above and return one signed original of this letter agreement to Xxxxxx Xxxxxxx.
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Very truly yours, |
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By: |
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W Xxxxxx Xxxxxxxxxxx |
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Vice Chairman |
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Acknowledged and Agreed to: |
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Xxxxxx X. Xxxxx |
Dated: |
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